Asia Pacific

China needs to learn from the US and Europe if it wants a sustainable securitization market, a former chief adviser to the China Securities Regulatory Commission has said. He also criticised China’s regulators for not co-operating.

The outlook for the Chinese securitization market is bright, but there are flaws in the system that need to be addressed quickly, including the severe lack of secondary market liquidity, investors have warned an industry forum.

South Korea’s Kia Motors Corp has started taking orders for a 144A/Reg S deal, which is split between a five year and a 10 year tranche.

Mitsubishi UFJ Securities (HK) has hired former Barclays banker Alan Choi as executive director for the capital markets group, effective from April 5.

The International Swaps and Derivatives Association and other industry bodies have called on global regulators to drop dual-sided derivatives trade reporting and instead accept an entity-based approach.

Hong Kong-listed China Green (Holdings) has missed redemptions and interest payments on two renminbi-denominated but dollar settled convertible bonds, according to a filing with the Hong Kong Stock Exchange on Tuesday.

A stream of SSA borrowers entered the primary bond market this week in both euros and dollars. Dual tranche deals were popular as borrowers sought to take size without paying heavy new issue premiums.

Deutsche Bank has hired James Boyle from Citi to be head of equities for Asia Pacific after Rob Ebert retires from the role.

Indonesian hypermarket operator Trans Retail has enlisted one bank to arrange a $125m refinancing, with invitations sent out to lenders.

International Finance Corp has signed a memorandum of understanding with the Securities and Exchange Commission of Cambodia to help the country improve its corporate governance standards to attract more foreign investment.

The Reserve Bank of India has given the nod for infrastructure companies to access foreign currency debt for shorter maturities than originally allowed — making a rare U-turn just four months after putting a new framework together. The RBI may have got it wrong first time around but it’s comforting that it lost no time in setting things right.

A $315m five year loan for Stats ChipPac has been signed after being in syndication for six months. Eight banks eventually formed the lending group.